Crude Oil rising on high demand from Asian markets

Crude Oil rising on high demand from Asian markets

Apr
06 2015

Crude oil rebounded above $56 per barrel after Saudi Arabia raised the prices of crude oil
sales to Asia for the second consecutive
month, which increased demand for oil. On the other hand, last Friday weaker-than
expected US Nonfarm payrolls data release has decreased demand for the U.S
Dollar, pushing oil prices higher as consequences. The temporary oil support
may fade very soon as monetary policy divergence between major central banks
will favor the Greenback. The Federal Reserve is expected to raise interest
rates in U.S.
anytime this year while its counterpart European and Japanese central banks are
already engaged in easing policy.